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The Art of Salary Negotiations (and Reviews)
April 15, 2019
Presented By Ellis Chase
JohnsonCornellSC Johnson College of Business
2 Johnson | Cornell SC Johnson College of Business
• The Negotiating Mindset
• Avoiding the Subject (and dealing
with the new law)
• Deferring the Real Negotiation
• Face-to-Face Negotiation- prioritizing
• Salary Review
The Art of Salary Negotiations
Cornell/SC Johnson Graduate School of Management
Agenda
3 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
The Negotiating Mindset
GREED IS
GOOD
4 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
The Negotiating Mindset
But seriously…
You’ve Earned It
5 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
The Negotiating Mindset
• Sunshine
• Light
• Success
6 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Avoid the Subject
7 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Avoid the Subject
Too Low
8 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Avoid the Subject
Too High
9 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Just Right
Avoid the Subject
10 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Avoid the Subject
HOW? (and what effect will the new law have?)
11 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Defer the Real Negotiation
12 Johnson | Cornell SC Johnson College of Business
Too Low
Cornell/SC Johnson Graduate School of Management
Defer the Real Negotiation
13 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Defer the Real Negotiation
Just Right
14 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Defer the Negotiation
Lottery
15 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Face to Face Negotiation Strategy
Creating the Win-Win
16 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Face to Face Negotiation Strategy
From: Kanye WestTo: Donald TrumpSubject: Salary QuestionDate: March 23, 2019; 4:13 P.M.
Dear Mr. President:
I’m very excited to receive the offer. It’s a bit low, according to what I’ve learned from my market. What can we do to get it up to what’s more appropriate for my experience and skills?
Looking forward to making this work!
Best regards,
Kanye
17 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Face to Face Negotiation Strategy
From: Jared Kushner.To: Donald TrumpSubject: Salary QuestionDate: March 23, 2016; 4:13 P.M.
Dear Dad,
I’m very excited to receive the offer. It’s a bit low, according to what I’ve learned from my market. What can we do to get it up to what’s more appropriate for my experience and skills?
Looking forward to making this work!
Best regards,
Jared
18 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Face to Face Negotiation Strategy
Vocabulary List
• CLARIFY
• WE
19 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Face to Face Negotiation Strategy
Prepare List:
1. EASY QUESTION
2. ANOTHER EASY ONE
3. MAJOR ISSUE
4. EASY
5. SECOND TOUGHEST ISSUE
6. EASY
7. TOUGH
8. EASY
9. TOUGH
20 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Face to Face Negotiation Strategy
SALARY
BONUS401K MATCH
ORGANIZATIONAL
STRUCTURE
CARREPORTING MATRIX
OFFICE
OPTIONS
SIGN-ON BONUS
Insurance
21 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Salary Reviews
But seriously...
You’ve Earned It
22 Johnson | Cornell SC Johnson College of Business
Sunshine, Light, and Success
Cornell/SC Johnson Graduate School of Management
Salary Reviews
23 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Salary Reviews
• Context
• Action
• Result
Be Prepared with Several CARS:
24 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Key Takeaways
• The Negotiating Mindset
• Avoiding the Subject
• Deferring the Real Negotiation
• Face-to-Face Negotiation
• Salary Reviews
25 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Q&A / Additional Resources
Salary Information
https://www.ellischase.com/salaries
26 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Q&A / Additional Resources
27 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management
Coming Attractions/ One More Webinar!
• Career Transition in the Next Phase of Your Career: The 30,000-Foot View
Thursday, April 18, 8-9 pm ET